TL;DR
Hyundai and TVS Motor have partnered to design, develop, and manufacture electric three-wheelers in India, focusing on local production and tailored solutions for the market.
Hyundai Motor Company and TVS Motor Company have officially forged a strategic partnership to jointly develop and manufacture electric three-wheelers (E3W) specifically for the Indian market. This collaboration, formalized through a Joint Development Agreement (JDA) at the 2026 Korea-India Business Forum, aims to address India's unique mobility challenges and potentially expand to other global markets.
Under the terms of the agreement, Hyundai will leverage its global research and development expertise to lead the design and co-development aspects, while TVS Motor will contribute its extensive knowledge in electric mobility and three-wheeler platforms, overseeing manufacturing and sales operations within India. The upcoming electric three-wheeler is expected to feature innovations like adaptive ground clearance, enhanced safety systems, improved thermal management for tropical climates, and flexible configurations for both passenger and cargo applications.
A core focus of this partnership is strong localization, with both companies committing to sourcing and manufacturing major components within India. This strategy is anticipated to reduce costs, optimize supply chain efficiency, and ensure prompt service and parts availability, thereby bolstering the domestic EV ecosystem and fostering job creation.
